Whale Stakes Another $35.4M in ETH After Gemini Withdrawal, Total Tops $208M

BitcoinWorld Whale Stakes Another $35.4M in ETH After Gemini Withdrawal, Total Tops $208M An anonymous cryptocurrency whale has continued a notable accumulation pattern, withdrawing an additional 19,000 ETH (worth approximately $35.44 million) from the Gemini exchange and subsequently staking the tokens, according to blockchain tracking firm Lookonchain.

This latest transaction brings the whale’s total staked ETH from Gemini over the past three weeks to 112,000 ETH, valued at around $208 million.

What the On-Chain Data Shows Lookonchain’s data reveals that the address, beginning with 0x2e80, has been steadily moving funds off the exchange and into staking contracts.

This is a significant move, as it reduces the available supply on exchanges and signals a long-term holding strategy.